https://www.taxtmi.com/caselaws?id=29104 Penalty proceedings under income-tax law were not invalid merely because they were completed after a long delay, since no statutory limitation period governed initiation or completion. Delay remained a relevant factor in assessing whether the penalty power had been properly exercised, but the issues of inordinate delay and whether it was satisfactorily explained were factual matters for the Tribunal or authority concerned. On the facts, the Tribunal considered the pendency of the assessee's appeals, the size of the additions, and the absence of a satisfactory explanation for part of the delay, yet declined to cancel the penalties because the delay was not so extreme as to justify interference. en-us Wed, 27 Jan 1982 00:00:00 +0530 Wed, 10 Mar 2010 18:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29104 Penalty proceedings under income-tax law were not invalid merely because they were completed after a long delay, since no statutory limitation period governed initiation or completion. Delay remained a relevant factor in assessing whether the penalty power had been properly exercised, but the issues of inordinate delay and whether it was satisfactorily explained were factual matters for the Tribunal or authority concerned. On the facts, the Tribunal considered the pendency of the assessee's appeals, the size of the additions, and the absence of a satisfactory explanation for part of the delay, yet declined to cancel the penalties because the delay was not so extreme as to justify interference. Case-Laws Income Tax Wed, 27 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29104